Leases

The Company’s operating leases are primarily for real property in support of our business operations. Although many of our leases contain renewal options, we generally are not reasonably certain to exercise these options at the commencement date. Accordingly, renewal options are generally not included in the lease term for determining the ROU asset and lease liability at commencement. Variable lease payments generally depend on an inflation-based index and such payments are not included in the original estimate of the lease liability. These variable lease payments are not material.

For the three months ended March 31, 2019, the Company recognized $15.9 in operating lease expense.

The following table presents the supplemental cash flow information related to the Company’s operating leases for the three months ended March 31, 2019:



Operating cash flows used for operating leases	$	15.9
Right-of-use assets obtained in exchange for operating lease obligations	18.2

The following table presents the lease balances (excluding the Gatan business which is classified as held for sale) within the Consolidated Condensed Balance Sheet related to the Company’s operating leases as of March 31, 2019:



Lease Assets and Liabilities	Balance Sheet Account
ASSETS:
Operating lease ROU assets	Other assets	$	270.6

LIABILITIES:
Current operating lease liabilities	Other accrued liabilities	$	52.7
Operating lease liabilities	Other liabilities	226.5
Total operating lease liabilities		$	279.2

Future minimum lease payments under non-cancellable leases (excluding the Gatan business which is classified as held for sale) were as follows:



Remainder of 2019	$	45.4
2020	55.0
2021	47.5
2022	35.9
2023	29.3
Thereafter	95.5
Total operating lease payments	308.6
Less: Imputed interest	29.4
Total operating lease liabilities	$	279.2



Weighted average remaining lease term - operating leases (years)	7
Weighted average discount rate (%)	2.9